Tips from BUYBIZUSA.COM to help you get started in your own business.
Why startup when you can start successful?
Why start up a business from scratch or buy a franchise and start that up from scratch, when you can buy an existing business and start successful, with a built-in, steady income right away? There are excellent opportunities within business acquisition for individuals.
Aging business owners are ready to get out. These owners hope to find the right new owner to carry on their business legacy. When smart people acquire existing businesses, they minimize risk, increase cash flow, and can immediately start bringing home a reliable income. Choosing the path of business acquisition may be especially important during times of uncertainty when starting up many types of businesses can be most risky.
Many businesses have been running successfully for years. The founding owners have worked out the kinks. They have recruited and developed some of the best talents in the industry, created excellent systems and processes, and have developed a reliable income stream. Often the best businesses on the market have also been pre-qualified for SBA lending. What does this mean to you, the buyer? It means that business can be acquired for as little as 20% down or in some cases, even 10% down. These are exceptional business opportunities that make sense for savvy would-be business owners.
What makes a successful owner?
Buyers come from all types of backgrounds. Many are corporate refugees looking to transfer their skills into running their own business. Other buyers have served their country in the various branches of the military. They now seek to apply their considerable talents to the world of entrepreneurship. Additionally, international buyers have often saved for years, specifically for the opportunity to buy a business that will help them get a visa and move to the U.S.
Another factor is the skills and talents a buyer brings to a new business venture. Buyers who have developed a variety of talents and skills in one industry are often successful transferring those skills into an industry that is brand new to them.
Where do you start?
So, you have special skills and abilities, and you have decided that you want to be your own boss. Now what? Well, you start by looking at the top businesses for sale in the marketplace. Open yourself up to pursuing an industry and opportunity that engages your interest. Don’t limit yourself to only those sectors that you have experience in, branch out, and explore other possibilities. Your skills and abilities are transferable to many different industries, think outside the box!
Startup, Franchise, or Existing Business?
Many startups and new franchises fail to become sufficiently profitable, so the investor is forced to give up. Acquiring an existing business is often an ideal method of becoming a successful business owner. For most of us, having a steady income right away is essential. This is especially true for people with families, or for anyone who has expenses like mortgages or rent, car payments, braces for their kids, or really, for anyone who likes to eat on a regular basis. Let’s be real, most of us need a reliable income right away, so doesn’t it make sense to start with an established business if you are not creating something new or innovative?
Be choosey when selecting a business.
Not all businesses on the market have excellent records or even good records. Do your research. Be open to choosing an industry that truly captures your interest. If you are looking at getting into an industry that you don’t have much experience in, look for ones that have profit and loss statements and tax returns that support the seller’s claims. Look at businesses that are SBA pre-qualified and only require a small percent down.
Being a business owner doesn’t mean you have to start up from scratch or pay a good portion of your hard-earned profits to a franchisor. There are many great businesses out there that are ready and waiting for a new owner to come in and take them to the next level! Check out all the different types of businesses that interest you, then select the one that is right for you. So, don’t start up, start successful!
Check out this company as just one example of great opportunity on the market today.https://youtu.be/NpOmwW3Cf7E
Good luck and make your business dream a reality.